SEC Lawyer Speaks in Coinbase Case! “Bitcoin Special!”

Today the cryptocurrency market is focused on the SEC-Coinbase case. At this point, as the trial began, the first statements began to come.

In her post, Fox Business reporter Eleanor Terrett asked the SEC lawyer of the judge presiding over the case whether Bitcoin is “an effective currency because it replaces fiat.”

Avoiding giving a clear answer to this question, the SEC lawyer stated that Bitcoin is different from other cryptocurrencies and said:

“Bitcoin is different from other cryptos.

What makes Bitcoin different is that it does not have an ecosystem, whereas this is different from other tokens.

Because when you buy a different token, you buy their entire ecosystem and the entire incentive.”

When Judge Failla asked the SEC lawyer whether #Bitcoin was “effectively currency as it is a replacement for fiat” he avoided a direct answer and answered “What makes Bitcoin different is that it does not have an ecosystem whereas when you buy these other tokens you buy their…

— Eleanor Terrett (@EleanorTerrett) January 17, 2024

The SEC lawyer also said that the SEC does not control all the cryptocurrencies on Coinbase, but Bitcoin is the only non-securitized asset among the tokens on Coinbase.

*This is not investment advice.

Source